Press release q2_fy11

Transcripts - Press release q2_fy11

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PRESS RELEASE Vascon Engineers Ltd H1 FY11 consolidated income grows to Rs. 431.69 crore up 19.09%. 9.09 Net Profit up 33.21 % to Rs. 31.62 crore H1FY11 Result • Total income at Rs 431.69 crore, up 19.09 % • Net Profit at Rs 31.62 crore, up 33.21 % Q2FY11 Result Q2FY11 Result • Total income at Rs 225.35 crore. 25.35 • Net Profit at Rs 17.77 crore, up 34.49 % 4.49 • Take over of GMP Technical Solutions Pvt. Ltd. • Acquisition of township project in Chennai • Launched ‘Forest County’ residential project in PunePune, November 8, 2010: Vascon Engineers Ltd, a leading real estate and EPCplayer, on a consolidated basis recorded a turnover of Rs. 431.69 crore forH1FY11 as against Rs. 362.50 crore in H1FY10; marking 19.09% of growth. 19.09%Similarly, net profit for the six months period was reported at Rs. 31.62 crore 33.21%.compared to Rs. 23.73 crore; an increase of 33.21For Q2 FY11, Vascon Engineers Ltd. recorded a total income of Rs. 225.35 crorefor Q2 FY11 as against Rs. 219.91 crore in Q2FY10. However, net profit touched 219Rs 17.77 crore against Rs 13.22 crore in Q2FY10 increased by 34.49 %. 13.22 4.49

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During the second quarter, Vascon successfully took over GMP Technical Solutionwith a cash outflow of Rs 62.63 crore. GMP Technical solution is a companyengaged in the manufacturing of modular clean room partitions and officepartitions apart from offering HVAC, electrical and building management (BMS)systems.Vascon acquired a township project consisting of 105-acre in Chennai. ForestCounty, an 18 acre, 18 building, residential project was also launchedsuccessfully in Pune.Said R Vasudevan, Managing Director of Vascon Engineers Ltd: “Vasconhas stuck to its strategy of a healthy mix between EPC and development projectsand that is paying rich dividends. We are on the threshold of an exciting phase ofgrowth and we hope to make a significant contribution to infrastructuredevelopment in the years to come. We plan to increase our presence in other tierII and tier III cities in the near future.” Engineers:About Vascon EngineersVascon Engineers Ltd. (VEL) is engaged in Real Estate Projects and EPC services witha track record of 25 years. EPC operations are in a number of states and unionterritories in India, providing high quality and innovative projects on a timely basis.EPC operations are focused on building construction in diverse areas like pharma,hospitals, factory buildings, educational institution buildings, Government buildings,MES, hospitality building etc. Real Estate projects comprises of residential and officecomplexes as well as shopping malls, multiplexes, hospitality properties and ITparks.FOR MORE INFORMATION PLEASE CONTACT:Mr. M. Krishnamurthi Parvathi NairVascon Engineers Ltd Adfactors PR +91-20-Tel: +91-20- 3056 2100 +91-22-2281 Tel: +91-22-2281 3565mk_muthi@vascon.com parvathi.nair@adfactorspr.com